Resources Connection Inc. News Release (10/02/12)

Resources Connection Inc. announced financial results for its fiscal first quarter ended Aug. 25. Total revenue for the first quarter of fiscal 2013 was $136.9 million, down 0.8% (up 1.2% on a constant dollar basis) compared with the prior year’s first quarter revenue and down 5.9% (down 5.3% on a constant dollar basis) on a sequential quarter basis. Revenues in the U.S. were up 4.5% quarter-over-quarter and down 3.6% sequentially due primarily to summer holidays.

The company’s net income for the first quarter was $4.8 million, up from $2.6 million in the fiscal first quarter of 2012. Gross margin was 39.0% in the first quarter of fiscal 2013, up 120 basis points from the first quarter of fiscal 2012 and seasonally down 120 basis points from the fourth quarter of fiscal 2012.